Revenues/Expenses
Costs of operating the business, incurred to generate revenues in the period covered by the income statement
What are Expenses?
A increase in net income that is outside the normal operations of the business
What are Gains?
The net income category found in the income statement that accounts for a company's regular, daily business activities, referring to the tasks required to make a product or service and deliver it to a customer
What is Continued Operations?
A group of metrics used to measure the efficiency and profitability of a company based on its financial reports
What are Ratios?
The assumption that allows the long life of a company to be reported in shorter time periods
What is Time Period Assumption?
The amount a business charges its customers when it provides goods or services
What is Revenue?
A decrease in net income that is outside the normal operations of the business
What is Losses?
A component of a company's core business or product lines that has been disposed of, and is reported separately from continued operations on the income statement
What are Discontinued Operations?
Net Income divided by equity
This includes both operating and non-operating income
What is Comprehensive Income?
A distribution of earnings to shareholders that may be in the form of cash, stock, or property
What is Dividend Revenue?
Profits or losses from completed transactions
What is Realized Income/Losses?
The period of buying goods and services to collecting cash from customers
What is Operating Cycle?
Net income divided by total assets
What is Return on Assets?
Another name for the income statement
What is Profit and Loss?
A gift of money made by a business to a charity that may be claimed as an expense
What are Charitable Donations?
Unrealized income or losses are recorded in this account
What is other comprehensive income?
The primary source of revenues and expenses
What is Operating Activities?
Revenue divided by Assets
Gross profit will appear on this type of income statement
What is Multi-Step?
A deduction from the gross revenue reported by a business, which results in net revenue.
What is Contra-Revenue?
Comprehensive income represents gains and losses from changes in the value of assets or liabilities that have not yet been this
What is settled and recognized?
Sales minus Cost of Goods Sold minus Operating Expenses
What is Operating Profit?
Earnings available to common stockholders divided by shares outstanding
What is Earnings per Share?
Reports financial performance for a period of time
What is an Income Statement?